India and Russia Advance EAEU Trade Agreement to Strengthen Bilateral Growth

By siliconindia  |  Monday, 17 November 2025, 09:01:53 AM IST

India and Russia Advance EAEU Trade Agreement to Strengthen Bilateral Growth
  • India reviews progress on India–EAEU FTA in Moscow
  • Talks focus on diversification, supply-chain resilience, and export expansion
  • Both sides target $100 billion bilateral trade by 2030
India has stepped up efforts to advance the proposed Free Trade Agreement with the Eurasian Economic Union (EAEU), as Commerce Secretary Rajesh Agrawal held a series of key meetings in Moscow to review the roadmap and accelerate negotiations.
Agrawal met Andrey Slepnev, Minister in charge of Trade at the Eurasian Economic Commission, Russian Deputy Minister of Industry and Trade Mikhail Yurin, and addressed an industry plenary of Indian and Russian business leaders. The discussions were built on recent outcomes of the India-Russia Working Group on Trade and Economic Cooperation.
The talks focused on strengthening supply-chain resilience, improving regulatory predictability, and expanding India’s export base through wider industrial and technological collaboration. Both countries reaffirmed their commitment to the shared target of reaching $100 billion in bilateral trade by 2030.
During the meeting with Slepnev, Agrawal reviewed the next steps for the India-EAEU FTA in goods. The Terms of Reference signed on August 20, 2025, outline an 18-month plan to open new markets for Indian MSMEs, farmers, and fishermen. Negotiations on services and investment will advance in the next phase.
With Deputy Minister Yurin, Agrawal explored new areas for trade diversification, cooperation in critical minerals, and opportunities in sectors like pharmaceuticals, telecom equipment, machinery, automobiles, leather, and chemicals. Both sides also agreed to quarterly regulator-to-regulator engagement to address issues related to certifications, listings of agricultural and marine products, non-tariff barriers, and market monopolies.
Agrawal also highlighted India’s logistics upgrades, digital public infrastructure, and opportunities for co-production at the industry plenary. He encouraged companies to align investments with the 2030 trade target and convert planned initiatives into actionable partnerships.
India views Russia as a long-term strategic partner in its broader development vision of becoming a developed nation, Viksit Bharat, by 2047.

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